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On the latest episode of The FitMoney Podcast, Executive Director Jessica Pelletier was joined by Author, Financial Planner, and mom of four Jamie Bosse on not only why talking to kids about money can be so hard, but how we can overcome that fear.
For kids today, money is getting tricky. It's much more than a cash world. From payment apps, to tapping cards, to online purchases and packages on our doorstep, the existence of a transaction isn't as visibly evident - so how do we ensure kids understand the transaction taking place? What can we do to demonstrate and emphasize healthy financial behaviors?
As Jamie shares in the new episode, money is so wrapped in emotion, behaviors, and things not really financial at all. We know we're supposed to be saving. We know we're supposed to have an emergency fund. But we don't do them. 90% of decisions we make are not rational. They're based on emotions, habits, and behaviors that are all hard to change.
When we forget that many financial decisions are behavioral in nature, we depend on the math lesson to teach healthy decision-making. Behavior is not learned when you're an adult. The best time to develop healthy financial behaviors is starting young.
Hear more about Jamie's work and FitMoney's mission to empower students everywhere with the financial tools they need.